Clorox Issues in Venezuela Kill Quarterly Sales Growth

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Clorox Issues in Venezuela Kill Quarterly Sales Growth

by TheStreet 0:53 mins

Clorox Issues in Venezuela Kill Quarterly Sales Growth

by TheStreet 0:53 mins

Shares of Clorox are in focus on Friday after the household cleaning products company posted earnings below expectations due to sluggish demand and currency issues. Clorox earned $1.30 a share, 5 cents below expectations and also down from last year's earnings of $1.38 a share. Revenue of $1.5 billion was roughly the same as expectations and last year's fourth quarter. Clorox expects fiscal 2015 earnings to be between $4.35 and $4.50 a share and sales growth to be between 1% and 3%. Issues in Venezuela due to price fixing on Clorox products, and double digit inflation, brought sales growth down by 2%. Shares of Clorox are down 5% for the year. Whalen MacHale reports for TheStreet from New York.

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